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WTI Options Liquidity During European Morning Hours

Highlights:

A record 83% of WTI Options (LO) volume electronically traded in April
WTI Options (LO) volume is up 56% YoY during European morning hours,
44% of total WTI Options (LO) electronic volume is a result of on-screen spread trading via RFQ

New Expiration Rules for Options

Highlights:

The new options expirations rules include the elimination of contrary exercise instructions for all physically-settled Crude Oil, Natural Gas, Refined Products, and Metals options contracts that expire after January 1, 2018. Brent (BZO), Coal, Power, and Emissions options are excluded.

In addition, for exact at-the-money settlements, the auto-exercise rule has changed. If the underlying settlement price falls exactly on a strike price at expiration, the at-the-money calls will be exercised and the at-the-money puts will be abandoned.

For More Information:

Clearing	CME Globex	Floor	CME ClearPort	Product Name	Subgroup	Exchange	Volume	Open Interest
LO	LO	-	LO	Crude Oil Options	Crude Oil	NYMEX	300,875	2,736,459
LN	LNE	-	LN	Natural Gas Options (European)	Natural Gas	NYMEX	45,347	1,843,930
WA	WAY	-	WA	WTI Crude Oil 1 Month Calendar Spread Options	Crude Oil	NYMEX	32,200	446,050
7A	B7A	-	7A	Light Sweet Crude Oil (WTI) Financial 1 Month Spread Options	Crude Oil	NYMEX	9,100	146,475
BV	ABV	-	BV	WTI-Brent Crude Oil Spread Options	Crude Oil	NYMEX	6,436	230,940
BZO	BZO	-	BZO	Brent Crude Oil Futures-Style Margin Option	Crude Oil	NYMEX	5,710	263,341
LO4	LO4	-	LO4	Crude Oil Weekly Options Wk 4	Crude Oil	NYMEX	4,574	0
ON	ON	-	ON	Natural Gas Options (American)	Natural Gas	NYMEX	3,974	117,827
LO5	LO5	-	LO5	Crude Oil Weekly Options Wk 5	Crude Oil	NYMEX	2,570	3,668
OH	OH	-	OH	NY Harbor ULSD Option	Refined Products	NYMEX	2,164	46,903

Trade Date: 22 Jun 2018 | PRELIMINARY

Note: Volume and Open Interest data is from the previous trade date. Preliminary data updates at approximately 9:00 p.m. CT and the final update is at 10:00 a.m. CT next business day.

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.